“With improved terms and conditions available in the reinsurance market, some existing reinsurers are leaning into the tightening market, committing more of their existing capital, as well as any new capital that they have raised, to ensure the renewal,” said Tom Wakefield, global CEO of Gallagher Re. “However, in contrast to other historically difficult markets, there are limited signs of entirely new reinsurance entities being formed and the current trend is one of consolidation into smaller, larger entities of reinsurance – which, in the absence of any major losses, points to price stability. .”
